Tag: climate action

Africa Climate Action Performance Report

The report compares Africa’s climate action with the rest of the world by contrasting differences in climate action and development levels. It classifies climate action by four criteria: per capita greenhouse gas emissions, per capita CO2 emissions from fossil fuel consumption, carbon cost of growth, and the rate of per capita energy use relative to a critical minimum.

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Climate Finance Needs in Africa

The total cost of implementing NDCs in Africa is estimated at USD 2.8 trillion over 2020- 2030. This includes the estimation of loss and damage when provided by countries. Of this, national governments have committed to providing USD 264 billion (about 10%), with the remaining USD 2.5 trillion identified as climate finance needs. Across all African regions, reported needs greatly exceed country allocations from national government budgets.

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New US ESG Regulations: Goldman Sachs Briefing

The climate disclosure rule proposal from the SEC on March 21, 2022 opens the door for the broadest federally mandated corporate ESG data disclosure requirement ever in the US. The proposed rule’s aim is to improve the consistency, quality and comparability of company-reported climate-related risks. This would enable investors to incorporate these risks and opportunities into their fundamental assessments more effectively while simplifying and clarifying the reporting expectations for companies.

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What a carbon tax can do and why it cannot do it all

A carbon tax reflecting the social cost of carbon is viewed as an essential policy tool to limit carbon emissions: high prices for carbon-emitting goods reduce demand for them. The carbon tax is generally levied on fossil fuels.  Some countries have already adopted such a tax and discussions are ongoing in others. There are proponents of a global carbon tax too. Yet, governments are often keener to adopt measures other than a tax to contain carbon emissions.

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Cities advancing climate action in the US

Cities will soon qualify for funding though the $1.2 trillion 2021 Infrastructure Investment and Jobs Act (IIJA), which can be used to magnify their impact on climate and resilience priorities. Funding through the IIJA will advance transportation, energy, broadband, and resilience initiatives. The IIJA provides grant funding for state and local governments, increases the cap on private activity bonds.

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Guide on climate-related disclosure for central banks

This report is a first “how-to” guide for central banks on producing their own climate-related disclosures. The guide takes, as its starting point, the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD). The focus of the guide is on climate-related financial exposures.

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Race to Green in East Asian Companies

This report tracks renewable energy commitments and follow-through by 30 of East Asia’s leading technology companies. Companies were selected from the 2019 Forbes Top 100 Digital Companies list, with consideration to domestic market value and social impact. Ranking criteria and evaluation methodology were developed by Greenpeace East Asia.

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Implementing the Clean Energy Investments in US Bipartisan Infrastructure Law

The Build Back Better Act contains the heart of President Biden’s domestic agenda, including over $500 billion in climate and clean energy provisions that are necessary for the U.S. to meet its climate goals. While the fight for the Build Back Better Act is not over, we also must ensure that existing federal funds are put to the best decarbonization uses possible. In November, President Biden signed the $1.2 trillion Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure Law.

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The Top 15 Climate Developments of 2021

The year started out strong as on January 20, President Biden took steps to bring the United States back into the Paris Agreement. On February 19, the country was once again a party to the unprecedented international treaty on climate change. This year saw 290 gigawatts of new renewable energy generation capacity around the world, breaking 2020’s record of 260 GW.

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Germany plans to increase its renewable energy share to 80 per cent by 2030

The Social Democrats (SPD), Alliance 90 (The Greens), and Free Democrats (FDP) of Germany, have entered into an agreement on a coalition contract that commits Germany to phase out coal-fired power generation by 2030, two months after the general election. The coalition partners also intend to expand the share of renewable energy to 80 per cent by 2030.

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Climate Action in the Middle East and North Africa

Investment in projects dealing with water, sanitation, transport, renewable energy and energy efficiency is essential for Mediterranean countries to meet the challenges of climate change. CAMENA encourages this investment in several ways: it facilitates project preparation and implementation; it expands the capacity and capabilities of project promoters; and it mobilises public and private-sector finance.

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IRENA’s Energy Transition Support to Strengthen Climate Action

International Renewable Energy Agency’s (IRENA’s) role is pivotal in supporting countries to enhance and implement their Nationally Determined Contributions (NDCs) and to meet climate pledges. IRENA has been engaging with 72 Parties of the 2015 Paris Agreement to support their efforts to enhance their climate pledges and implement the existing climate action plan through the energy transition.

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New mandatory climate-related financial disclosures for large UK businesses — a first for the G20

From 6 April 2022, over 1,300 of the UK’s largest companies and financial institutions will be required to disclose climate-related risks and opportunities in line with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. The UK will be the first G20 country to introduce these requirements into law. This important announcement comes hot on the heels of the publication of the UK’s Net Zero Strategy.

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What We Got Out of COP26—and What’s Still Needed

We’ve reached the strongest global consensus yet that fossil fuels must be phased out. But as youth activists remind us, the seas are still rising. No single gathering, no final accord, is going to end the climate crisis. As international climate talks wind down in Glasgow, though, the world is moving forward on three vital fronts, even as each reveals anew how much further we must go.

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Reducing Embodied Carbon Is Key to Meeting India’s Climate Targets

Having a national-level narrative and roadmap to net-zero carbon buildings— including embodied energy and carbon—will be central to India’s sustainable economic development. It would create certainty; address any gaps in the supply, demand, and finance aspects; and drive market transformation. Decarbonising the built environment is a profitable business, and if done strategically, can amplify the financial and environmental benefits to India.

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US$ 413 Million Pledged for Most Vulnerable Countries at COP26

In a show of support for those most at risk from climate change, 12 donor governments have pledged $413 million in new funding for the Least Developed Countries Fund during the COP26 climate summit. The LDCF, hosted by the Global Environment Facility, is the only dedicated source of climate resilience funds for the 46 Least Developed Countries, which have contributed the least to carbon emissions and face some of the highest risks from the effects of climate change.

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End of Coal in Sight at COP26

At least 23 nations made new commitments to phase out coal power, including Indonesia, Vietnam, Poland, South Korea, Egypt, Spain, Nepal, Singapore, Chile and Ukraine.  In a new ‘Global Coal to Clean Power Transition Statement’, countries also committed to scaling up clean power and ensuring a just transition away from coal. This follows recent announcements from China, Japan and South Korea to end overseas coal financing which now means all significant public international financing for coal power has effectively ended.

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